Posted by Dave from MN on January 13, 2009 at 04:54:38 from (96.24.108.212):
In Reply to: Economic Indicators? posted by dej(jed) on January 13, 2009 at 04:27:41:
I would agree with the asking price ppart of it. I would think the average "getting it sold" price's will actually be a bit lower. There is a peice of land adjacent to mine that I would like to buy, I have made an offer on what I will pay for it, but the guy keeps trying to sell the entire property rather than just the peice I want. He had a appraiser come out 2 years ago and seems to beleive that it is still worth what the appraiser inflated it to when the real estate market was still in that imaginary appreciation phase. I am also guessing he does not have the equity and the lender will not release the land I want from his leined deed. If he gets what he was told it's worth, then I stole my place when I bought it. I will say that the "for sale" sections of papers sure are filling up with atv's, snowmobiles, boats, and just about anything else you can imagine. I have one friend that is liquidating everything he has so he can make his mortgage and other bills. Most of the stuff he is selling he bought by refinancing his house to 0% equity. His kids still are wearing Holister clothes and $100 shoes, so I dont feel sorry for him. Sure hope I dont get in that boat.
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